Banks Are Mean

Throughout my self-employed life, I have come to expect nothing from a bank. They don’t like providing support, and when they do they do so only because the government has told them they need to lend to businesses.

But the worst phase of all has been in trying to secure a mortgage from them. Thanks to the financial crisis of 2008, they are now incredibly reluctant to do so without ludicrous amounts of questions that are structured backwards. You go on holidays, and buy presents for family and Christmas, and all of these are budgeted in before they decide how much you have left to afford for a mortgage. Daft. You feed yourself, pay debt next, then you find out what’s left. Cutting your cloth accordingly is not a phrase the rules understand.

So when the inevitable mortgage rejection happened, and this time for completely spurious reasons, I was somewhat resigned to it. This time, however, I am not going down without a fight. The ridiculous rules state that there is not enough evidence of consistent earnings for both of us, simply because my partner joined the business less than two years ago. Yet the business has been going for 7 years. Crazy? I just might think so.

We’re panicking a little. Timings for a nice and smooth changeover at the end of July are now very much out of the window. But we have to try and get a mortgage from somewhere. We can, and have, decided to go back to the bank and really push them hard. Banks may be silly, but they really don’t like the words “complaint” or “ombudsman”. It makes them look bad. Here’s hoping some sane person a bit higher up the food chain can overrule what is a truly absurd decision.

Life is full of surprises. In truth, I did expect this one, but this time I feel very determined to win. Last time we had this we gave up very quickly. I felt totally defeated. But it feels OK this time. It’s only a small interruption. Stressful, yes, but I will find a way…